Goods In Transit Insurance

Any business offering haulage, moving or delivery services could benefit from GIT insurance. It will protect your customer’s goods while being delivered. And can help you with the cost of replacing them if they are lost or damaged in transit. 

This could include tradespeople, retailers or any businesses that regularly move or transport stock or materials from one location to another. Transporting goods isn’t without risks just because they are your own. Protection against damage, theft and loss of your own goods is equally important. 

Good in transit insurance can be added as an extra level of coverage on courier insurance policies. Some delivery companies can even require this cover depending on the type of work you do for them. 

If you are a self-employed courier or rent your van as a delivery or removal vehicle, you could benefit from goods in transit cover. It can also add an extra vote of confidence and peace of mind to customers.

If you are moving house or transporting your own valuables, you might want to consider temporary goods in transit insurance. Particularly if you are moving high-value items like artworks, antiques and electronics. 

Conditions of carriage are an agreed set of regulations that are usually outlined in a contract when you take on a job. These dictate what you are liable for when you transport the customer’s goods. And insuring these liabilities can help protect your business if things go wrong. There are a few common conditions of carriage that GIT insurance providers will be familiar with:

RHA conditions of carriage insurance 

RHA or the Road Haulage Association offer a set of standard conditions of carriage that are widely used and recognised. They are reviewed in line with haulage industry needs and have been updated as recently as January 2024.

CMR convention insurance 

These conditions of carriage are set out by the UN. They apply to every contract where goods are carried for reward between two different countries by a road vehicle.

Insurance for individually negotiated conditions

With standard conditions like the RHA being limited to members, you might choose to negotiate your own conditions with the customer. Having these clearly outlined will help to ensure all your liabilities are covered by your insurance.

Full liability goods in transit insurance

This is also a safe option if you are not using a standard set of carriage conditions, or are unsure of your liabilities. This can help cover you for taking full responsibility for the goods. 

Levels of cover included

Policies can come with coverage limitations. This might look like a maximum claim limit per load or individual item. The value of these limits will all be outlined in the policy documents and can be discussed before you buy.

Goods to be delivered

The cover you need will be influenced by the goods you deliver. For example, if you are delivering blood and organs, you will need cover for cases where refrigeration fails. 

How long you need GIT cover

If you only need cover for a one-off to short-term job, then temporary goods in transit insurance could be a cost-effective solution. The option of short-term and even pay as you go goods in transit insurance policies allows for more flexible protection. 

Where you deliver

If you deliver to the EU or internationally, double-check your protection still applies to goods being transported in these areas. Not just within the UK. 

Drivers over the age of 25 with no driving convictions and a good claims history can be cheaper to insure than young or convicted drivers.

Only choosing the cover you need could help reduce unnecessary expenses. This can come from knowing exactly what you are liable for when transporting goods.

If you overestimate the value of goods you carry, you can end up overpaying for your insurance coverage.

Some insurers will offer discounts to drivers with telematics insurance if their driving is good.

By upgrading the security of your vehicles, for example, by investing in immobilisers, dash cams, trackers and door locks, you could reduce the risk of theft.

A history of claiming for goods damaged during transit will indicate that you are a bigger risk and could come with a higher premium. 

The excess is what you will pay towards each claim. Increasing this takes some of the risk back from the insurer, and could be rewarded with a cheaper deal.

Paying the premium in one go, rather than in monthly instalments, can mean you pay less overall. 

Goods in transit insurance is highly specialised. So by shopping around you can see how each insurer views your risks, and who can give you the cheapest deal. Quotezone helps you compare goods in transit insurance policies by matching you to a range of experienced UK providers.